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Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2023

Stock option activity was as follows (shares in thousands):


	Options Outstanding	Weighted- Average Exercise Price








Outstanding at March 31, 2022	471	$	1.82
Granted	1,400	1.61
Forfeited, canceled or expired	(66)	2.43

Outstanding at March 31, 2023	1,805	1.63

Stock options outstanding

Certain information regarding options outstanding at March 31, 2023 was as follows:


	Options Outstanding		Options Exercisable		Options Vested and Expected to Vest
Number (in thousands)	1,805		470		1,805
Weighted-average exercise price	$	1.63	$	1.78	$	1.63
Aggregate intrinsic value (in thousands)	$	—	$	—	$	—
Weighted average remaining contractual term (in years)	8.2		4.4		8.2

RSU activity

Compensation expense for RSAs is recognized over the estimated requisite service period. Following is a summary of RSA activity (shares in thousands):


	RSAs Outstanding	Weighted- Average Grant Date Fair Value per Share








Outstanding at March 31, 2022	55	$	15.88
Granted	98	2.10

Vested	(26)	16.27
Outstanding at March 31, 2023	127	5.23

RSU Activity

Compensation expense for RSUs is recognized over the estimated requisite service period. Following is a summary of RSU activity (shares in thousands):


	RSUs Outstanding	Weighted- Average Grant Date Fair Value per Share












Outstanding at March 31, 2022	1,351	$	8.39
Granted	515	2.10
Forfeited, canceled or expired	(284)	7.46
Vested	(713)	6.16
Outstanding at March 31, 2023	869	6.80

PSU activity

Following is a summary of PSU activity (shares in thousands):


	PSUs Outstanding	Weighted- Average Grant Date Fair Value per Share












Outstanding at March 31, 2022	982	$	8.87
Granted and additional goal shares awarded	463	2.10
Forfeited, canceled or expired	(276)	6.04
Outstanding at March 31, 2023	1,169	7.02

Stock-based compensation

Stock-based compensation expense, primarily included in general and administrative expense, was as follows (in thousands):


	Year Ended March 31,
	2023		2022
Stock options	$	190	$	177
RSAs	213		393
RSUs	3,598		4,053
PSUs	(238)		1,432
ESPP	122		207
	$	3,885	$	6,262

Other information regarding stock-based compensation

Certain other information regarding our stock-based compensation was as follows (in thousands):


	Year Ended March 31,
	2023		2022

Total intrinsic value of stock options exercised	$	—	$	2,273
Fair value of RSUs vested	1,549		8,288

ESPP Activity

ESPP activity was as follows (shares in thousands):


	Shares Available for Issuance	Weighted- Average Purchase Price		Weighted-Average Discount per Share






Balance at March 31, 2022	153
Employee shares purchased	(119)	$	11.65	$	1.28
Balance at March 31, 2023	34

Assumptions

Assumptions used in calculating the fair value of stock option grants and employee stock purchases were as follows:


	Year Ended March 31,
	2023	2022
	ESPP	ESPP
Dividend yield	—%	—%
Risk-free interest rate	3.1%	—%
Expected life (years)	N/A	N/A
Expected volatility	73%	67%